Friday, December 18, 2009

What Renovations To Do Primarily When Rehabbing Investment Properties

By Gavin J. King

Taking the first step, they say, is always the heaviest. But once you get the hang of it, once the momentum is there, the remaining steps will be lighter and easier. This is not an uncommon problem among people who rehabilitate homes. Most of those who are inexperienced scratch their heads on what to do first. Developing a construction manifest will help you schedule your rehab stages in a logical and methodical plan. Just to help you get started on developing your own rehab manifest, here is a short list of places you may consider starting from.

Establishing a well planned series of repairs, with acceptable time goals will help you out. Always use a realistic deadline for specific items and projects to be completed. Will the repairs and improvement be completed in three weeks? A week? Once this time-line is understood, make an effort to finish the project before or on the deadline.

Now you can start the demo. During this phase you will be removing any undesirable components of the home. You take out anything that can hinder you and your team from properly rehabbing that house. This can be as simple as carpets and padding to removing lathe and plaster. You can consider changing out old windows for modern vinyl models. There are plenty of refurbish stores that will gladly resell your materials to people who may need them. The money can always go toward something in your own project. Putting down a new layer of paint is another thing you may want to consider.

Now, on to the bigger types of issues. Remember, rehabbing houses means you are operating with a tight budget. Keeping a list that tracks your most important repairs and accounts for them first will help you stay on budget. Always remember to pull building permits while fixing anything structural. After that you focus on the obvious cosmetic repairs. Anything to do with any substance or material that directly support the roof is considered a structural repair.

The HVAC (heating, ventilating, and air conditioning) will be carried out next. Followed by any necessary electrical and plumbing changes you plan on implementing. Cosmetic repairs or beautifying improvements will follow. Cosmetic changes may include updating light fixtures, new mop boards and any repainting that needs to be done. - 23309

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